Bankrupt Borders Group Inc said it has canceled its auction and will sell itself to a group of liquidators.
Borders announced the decision on Monday, saying it was not able to reach a deal for a going-concern sale to salvage its 400 remaining stores and 11,000 jobs.
Borders Bookstore Will Eliminate 11,000 Jobs, Close 400 Remaining Stores
Earlier today it was announced on MediaBistro on GalleyCat that Books-A-Million was interested in some Borders stores, apparently that deal is out the window.
Books-A-Million Reportedly Interested in Some Borders Stores
Last night Borders' deadline to secure new bidders passed without offers from new parties. According to a Reuters report, the bookselling chain Books-A-Million is considering buying "less than 50″ of Borders' stores.
The Dirty Lowdown
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